5026 24th St SW · Lehigh Acres, FL 33973

$392,000

6 bd · 4.0 ba · 2,050 sqft · MultiFamily public records · 271 Days on market

Built 2004 0.29 ac lot Est $453k · 13% under

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Why this score? — see what drove the D+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +14.7/30.0
• ARV discount +13.6/15.0
• DSCR +4.5/10.0
• Schools +4.1/10.0
• 1% rule +3.8/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.8/10.0
• Rent growth +0.8/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Discover a prime investment opportunity with this well-maintained duplex located in the heart of Lehigh Acres. Each unit offers a spacious 3-bedroom, 2-bathroom floor plan designed for comfortable and functional living. This duplex is perfect for investors seeking a strong income-producing property. With its desirable layout and practical features, it’s a valuable addition to any real estate portfolio. Located near shopping, dining, schools, and major roadways, this property provides convenient access to everything Southwest Florida has to offer. New Roof (03/17/2023).

Key facts

• Convenient access
• Spacious floor plan
• 0.29 acre lot

Tags

• WELL MAINTAINED DUPLEX
• SPACIOUS FLOOR PLAN
• INCOME PRODUCING PROPERTY
• CONVENIENT ACCESS

Property features AI

Finance

• Other: Pets allowed; Tenants pay electricity
• Financial info: Gross scheduled income: $33,600; Each unit currently rents for $1,400 (actual/pro forma)
• HOA & community: Non-gated community; No association fee

Exterior

• Parking: Each unit has an attached 1-car garage; Automatic garage doors
• Utilities: Cable service available; Septic tank sewer; Well water
• Home design: Single-story property; Multifamily property with 2 units; Resale condition; Zoned RM-2
• Construction: Built with block, concrete and stucco; Shingle roof
• Exterior features: Well for irrigation/water source; No additional exterior features listed; Rectangular lot; Public maintained road

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Two 3-bedroom units (each unit listed as Three Bedroom)
• Flooring: Tile flooring
• Bathrooms: Four full bathrooms total (each unit has 2 full bathrooms)
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Single hung windows; Screened lanai/porch
• Laundry & utility: Laundry in garage (each unit)

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $392k.

Deal economics

• At list price, monthly cash flow is $102 ($1k/yr) — positive. Per door: $51/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $346k (11.7% below list).
• Recommended offer: $345k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.6% vs local median 4.7% in Lehigh Acres — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 59/100 on livability (#826 in FL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime C-, employment D+, amenities F.
• Lee (suburban): math 47% / reading 50% proficiency, ranked #42 of 73 in FL (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Veterans Park Academy For The Arts (math 41% / reading 45%, grade F, #1,366 of 2,144 statewide, top 64%, 2,133 students, 36% FRL); Oak Hammock Middle School (math 43% / reading 41%, grade D-, #340 of 571 statewide, top 61%, 1,563 students, 56% FRL); Lehigh Senior High School (math 23% / reading 45%, grade F, #394 of 667 statewide, top 60%, 2,476 students, 57% FRL).
• Market conditions: Rents falling (-7.0%/yr); 295 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• At $3,462/mo this rent would consume 69% of the median local household income ($61k/yr) (locally 1142% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Lee County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 271 days — a 12% lower offer ($345k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y ago; this cycle's ask has dropped $58k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $210k; list at $392k implies a 87% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $344,960 (12.0% below list)

Questions for the listing agent

1. It's been on market 271 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.88% ✗
• Cap rate: 6.60%
• Cash-on-cash: 1.11%
• DSCR: 1.05
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $453,050
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2213/2215 Leda Ave S	0.16mi	6/4.0	2,330 (+14%)	18mo	$355,000	$152	55
4937/4939 Leonard Blvd S	0.30mi	6/4.0	2,238 (+9%)	18mo	$400,000	$179	55
2229/2231 Armour Rd	0.19mi	6/4.0	2,351 (+15%)	20mo	$530,000	$225	50
5225/5227 28th St SW	0.54mi	6/4.0	2,351 (+15%)	14mo	$520,000	$221	39
2504 & 2506 Hawalaska St	0.63mi	6/4.0	2,250 (+10%)	19mo	$465,000	$207	39
5208/5210 30th St SW	0.53mi	6/4.0	2,351 (+15%)	15mo	$539,000	$229	39

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -17.9%
• Equity multiple: 0.39×
• Total profit: $-67,193
• Equity at exit: $58,448

10-year hold

• IRR: -17.0%
• Equity multiple: 0.19×
• Total profit: $-89,369
• Equity at exit: $33,893

Cash invested: $109,760 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 33973

• Home prices YoY: -3.4%
• Rents YoY: -7.0%
• Active inventory: 295
• Price-to-rent: 18.9×

Monthly cashflow live

• Estimated rent: $3,462 high
• Mortgage (P&I): −$2,056
• Tax from tax record: −$414 /mo · $4,973/yr
• Insurance: −$163
• HOA: −$0
• Vacancy / Maint / Mgmt: −$727
• Net cashflow: $102

Break-even live

Break-even rent $3,333

Max offer price $392,000

Occupancy floor 92%

Sensitivity live

Price	-10% $323	-5% $212	+0% $102	+5% $-9	+10% $-120
Rent	-10% $-172	-5% $-35	+0% $102	+5% $238	+10% $375
Rate	-1.0pp $299	-0.5pp $201	base $102	+0.5pp $0	+1.0pp $-103

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,462
Total (2 units)			$3,462

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $98,000
• Closing costs: $11,760
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2216 Leda Ave S Lehigh Acres, FL	5.0	3.0	2750	$2,470	$0.90	18d	1	0.18mi
5214 25th St SW Lehigh Acres, FL	6.0	4.0	2316	$1,600	$0.69	25d	1	0.43mi

Listing history 22 events

1. 2026-06-22
   days on market $392,000 Active 271 DOM
2. 2026-06-17
   days on market $392,000 Active 267 DOM
3. 2026-06-16
   days on market $392,000 Active 266 DOM
4. 2026-06-16
   days on market $392,000 Active 265 DOM
5. 2026-06-13
   days on market $392,000 Active 263 DOM
6. 2026-06-09
   days on market $392,000 Active 259 DOM
7. 2026-06-07
   days on market $392,000 Active 257 DOM
8. 2026-06-02
   days on market $392,000 Active 252 DOM
9. 2026-06-01
   days on market $392,000 Active 251 DOM
10. 2026-06-01
    days on market $392,000 Active 250 DOM
11. 2026-04-08
    price $392,000
12. 2025-12-23
    price $399,900
13. 2025-09-23
    listed $450,000 Active
14. 2018-05-22
    soldstatus $210,000
15. 2018-03-23
    price $210,000
16. 2018-03-16
    price $225,000
17. 2017-12-17
    historical
18. 2017-12-14
    status Pending
19. 2017-12-06
    status Active
20. 2017-11-07
    status Pending With Contingencies
21. 2017-10-24
    listed $207,900 Active
22. 2003-11-05
    soldstatus $10,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $4,973 · $414/mo
• Projected year-2 tax: $4,973 · $414/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 29 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $41,544
• − Mortgage interest: −$21,958
• − Property taxes: −$4,973
• − Insurance: −$1,960
• − Repairs & maintenance: −$3,324
• − Management: −$3,324
• − Depreciation: −$11,404
• Taxable loss: −$5,398
• Est. tax savings @ 24.0%: +$1,295
• After-tax cash flow: $2,514/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Lee
• NCES district ID: 1201080
• Math proficiency: 47% ▼ -11.00%
• Reading proficiency: 50% ▼ -4.00%
• Median HH income: $49,518
• Composite: 41.49/100
• National rank: #3458
• State rank: #42 of 73 in FL

Livability — Lehigh Acres

• Score: 59/100
• State rank: #826
• US rank: #20055

Category grades

Amenities F Commute F Cost of living A+ Crime C- Employment D+ Housing A+ Health & safety D- User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lehigh Acres, FL
• County: Lee County · 788,662 people
• City population: 130,638
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 14,392
• Household income: $60,530
• Rent vs Own: 77.1% rent · 22.9% own
• Severe rent burden: 1142.0

Population outlook (Lee County) Hauer SSP2

• Today (2025): 871,946 people
• By 2030: 955,468 · +9.6%
• By 2040: 1,113,587 · +27.7%
• By 2050: 1,256,891 · +44.1%
• By 2075: 1,560,270 · +78.9%
• By 2100: 1,726,848 · +98.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: Hispanic / Latino 41% Black 36% Two or more races 21% White 18%
• Hispanic origin (detail): Mexican 21% Puerto Rican 7% Cuban 4% Dominican 1%
• Common ancestry: Hispanic 14% Russian 1% Estonian 1%
• Foreign-born: 23% · Canada, China
• Languages at home: 54% English-only · Spanish 31% French/Haitian/Cajun 13% Other Indo-European 1%

Political lean MEDSL · Lee

• 2024 margin: Strong R (+28.4) · D 35.5% · R 63.9%
• 2008→2024 swing: -18.0pp toward R · 2008: -10.4pp · 2024: -28.4pp
• All cycles: 2024: R+28.4 2020: R+19.2 2016: R+20.4 2012: R+16.6 2008: R+10.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -8.43%
• Current HPI: 237.694
• Rent YoY: ▼ -6.99%
• Metro: Cape Coral-Fort Myers, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

+3820.0% since first listed

12 events — show timeline

• 2026-04-08 Price Changed $392,000 FORTMLS
• 2025-12-23 Price Changed $399,900 FORTMLS
• 2025-09-23 Listed $450,000 FORTMLS
• 2018-05-22 Sold (Public Records) $210,000 Public Records
• 2018-03-23 Price Changed $210,000 BEARMLS
• 2018-03-16 Price Changed $225,000 BEARMLS
• 2017-12-17 Listing Removed — FORTMLS
• 2017-12-14 Pending — FORTMLS
• 2017-12-06 Relisted — FORTMLS
• 2017-11-07 Pending — FORTMLS
• 2017-10-24 Listed $207,900 FORTMLS
• 2003-11-05 Sold (MLS) $10,000 FORTMLS

Property tax history

+10.5%/yr

Latest (2025): $4,973 · +9.7% YoY. Source: county tax records.